Brokerages Predict Avnet, Inc. (NASDAQ: AVT) to Report Earnings Per Share of $ 1.08
Analysts expect Avnet, Inc. (NASDAQ: AVT) to report earnings of $ 1.08 per share for the current fiscal quarter, Zacks reports. Three analysts made estimates for Avnet’s earnings, with the highest EPS estimate at $ 1.10 and the lowest estimate at $ 1.06. Avnet posted earnings per share of $ 0.36 in the same quarter last year, indicating a positive growth rate of 200%. The company is expected to release its next earnings report on Wednesday, October 27.
According to Zacks, analysts expect Avnet to report annual earnings of $ 4.40 per share for the current fiscal year, with EPS estimates ranging from $ 4.20 to $ 4.55. For the next fiscal year, analysts predict the company will report earnings of $ 4.86 per share, with EPS estimates ranging from $ 4.54 to $ 5.19. Zacks Investment Research earnings per share averages are an average based on a survey of research analysts who follow Avnet.
Avnet (NASDAQ: AVT) last announced its quarterly earnings data on Tuesday, August 10. The company reported earnings per share (EPS) of $ 1.12 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.85 of $ 0.27. The company posted revenue of $ 5.23 billion in the quarter, compared to a consensus estimate of $ 5.20 billion. Avnet had a net margin of 0.99% and a return on equity of 6.91%. In the same quarter of last year, the company made earnings per share of $ 0.64.
A number of equity research analysts have weighed on the company. Raymond James raised his price target on Avnet from $ 50.00 to $ 52.00 and gave the company a “strong buy” rating in a report released Thursday, August 12. TheStreet downgraded Avnet from a “b” rating to a “c +” rating in a report released on Wednesday, August 11. One equity research analyst rated the stock with a sell rating, another assigned a conservation rating, another assigned a buy rating, and another gave the company a high buy rating . Based on data from MarketBeat.com, Avnet currently has a consensus rating of “Buy” and a consensus target price of $ 39.25.
AVT traded up $ 0.88 during trading hours on Friday, reaching $ 37.85. 792,032 shares of the company’s shares were traded, compared to its average volume of 750,120. The company has a quick ratio of 1.29, a current ratio of 2.34, and a debt ratio of 0.29. The company has a market cap of $ 3.77 billion, a PE ratio of 19.71, a PEG ratio of 0.35 and a beta of 1.52. The company has a 50-day moving average price of $ 39.52 and a 200-day moving average price of $ 41.16. Avnet has a 52 week low of $ 24.30 and a 52 week high of $ 45.43.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 21. Shareholders of record on Tuesday, September 7 received a dividend of $ 0.24 per share. This represents a dividend of $ 0.96 on an annualized basis and a dividend yield of 2.54%. This is an increase from Avnet’s previous quarterly dividend of $ 0.22. The ex-dividend date was Friday September 3. Avnet’s dividend payout ratio (DPR) is currently 35.42%.
In other news, VP Elizabeth mcmullen sold 3,251 shares of the company in a transaction on Monday, September 13. The stock was sold for an average price of $ 38.47, for a total value of $ 125,065.97. The sale was disclosed in a legal file with the Securities & Exchange Commission, which can be accessed via this link. Company insiders own 1.10% of the company’s shares.
Institutional investors and hedge funds have recently changed their positions in the company. Cullen Frost Bankers Inc. increased its holdings of Avnet shares by 185.0% in the second quarter. Cullen Frost Bankers Inc. now owns 855 shares of the company valued at $ 34,000 after acquiring an additional 555 shares in the last quarter. Deseret Mutual Benefit Administrators acquired a new position in Avnet in the 2nd quarter valued at approximately $ 89,000. Captrust Financial Advisors increased its stake in Avnet by 602.5% during the first quarter. Captrust Financial Advisors now owns 3,140 shares of the company valued at $ 130,000 after purchasing an additional 2,693 shares in the last quarter. First Mercantile Trust Co. purchased a new equity stake in Avnet during the first quarter valued at approximately $ 187,000. Finally, Utah Retirement Systems purchased a new equity stake in Avnet during the first quarter for a value of approximately $ 212,000. Institutional investors hold 94.89% of the company’s shares.
Avnet, Inc is engaged in the distribution and sale of electronic components. It operates through the Electronic Components and Farnell segments. The electronic components segment markets and sells semiconductors, interconnection devices, passive and electromechanical devices and integrated components. The Farnell segment is engaged in the distribution of electronic components and related products to the electronic system design community using multi-channel sales and marketing resources.
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